FX MARKET REPORT 11.01.2021
GBP/USD lost critical support at 1.3545 as the cable tumbled down due to Fed-related dollar strength and the UK’s dire COVID situation. 1.3445 now turns from support to resistance. It is followed by 1.3640, a swing high last week, followed by the recent peak of 1.3705. EUR/USD loses further traction and drops below the 1.22 level. The recovery in the greenback keeps the pair under pressure. The Sentix index returned to the positive territory in January. Dollar Index was up 0.3% at 90.335, and is now over 1% higher than the almost three-year low it hit last week. USD/JPY was up 0.2% at 104.16, while the risk-sensitive AUD/USD was down 0.8% at 0.7701.